Wednesday, July 28, 2010
Econ 101
TaxCheatTimmy - absent
We know he wasn’t in Ethics class…
..."The right thing for the country, the fair thing, the responsible thing for the country is now to make sure we leave in place and preserve tax cuts that go to more than 95% of working Americans,” Geithner told NBC, stressing that the White House’s plan would incentivize businesses to grow and hire more employees, which in turn would boost the recovering economy.
...Letting the cuts expire would raise taxes on individuals who make more than $250,000, but leave tax relief in place for all Americans making less than that.
..."The country can withstand that,” he said. “The economy can withstand that.” ...I do not believe it will have a negative effect on growth,”
Long-term capital investment was encouraged by lower tax rates. [If you don’t want it to happen, tax it.]
Long-term capital investment encourages growth. ["Taaaax it1!!1one!!!-- TimmyG]
The top 5% of income earners pay >50% of the federal tax revenue.
The top 1% of income earners pay >25% of the federal tax revenue.
48% of income earners Americans pay 0% of the federal tax revenue.
Can we “withstand” that?
Statistics
This page has been viewed 10212124 times
Total Entries: 5572
Total Comments: 4094
Total Trackbacks: 714
Most Recent Entry: 09/07/2010 08:45 pm
Most Recent Comment on: 09/04/2010 05:51 pm
{/if}
